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Retail engagement platform Netree on Tuesday called for further rationalisation of the goods and services tax (GST) by restricting the number of tax slabs at two to promote the retail sector growth as too many slabs create compliance burden for small and medium retailers.
“Rationalisation of GST should be done with just one to two plainer slabs along with simplification on account of filing of returns,” Desi Valli, founder and CEO of Netree, said in a statement.
He also urged the government to look at simplifying the procedures for filing returns.
Too many slabs create compliance burden for small and medium retailers, he said.
“As we need to deal with all the stakeholders in retail value chain, simplification of procedure will make the compliance easier and error free,” Valli said.
Further, Valli demanded tax incentives on digital payments for small and medium retailers to be announced in the forthcoming budget to promote digital transactions.
“Government must propose separate funds to organise start-up meets to enable various stakeholders to meet and explore opportunities,” he added.
(With PTI Inputs)

FY19 is likely to be the second best year for share sales of SMEs

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As per the latest data of PRIME Database, a primary market tracker in the country, this financial year that is April 1st 2019 to March 31st 2020 is likely to be the second best year for share sales of small and medium enterprises (SMEs).
The primary market tracker’s report also said that that the SME platforms have seen 106 offerings mop up of about ₹ 1,620 crores. As per news sources, this is higher than the amount raised in any other fiscal year except fiscal year 2018, when the amount mopped up touched about ₹ 2,200 crores.
Reports also say that until now, 466 SMEs have listed on the bourses and they have together garnered over ₹ 5,500 crores.
It also reported by PRIME Database that, Sirca Paints India and Manorama Industries were the biggest offers in fiscal year 2019, with an issue size of ₹ 74 crore and ₹ 60 crore respectively.